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Etrade Launches Cryptocurrency Trading

Etrade Launches Cryptocurrency Trading

Published by InvestorGreg Editorial Team

May 3rd, 2019

Etrade Financial Group, a brokerage firm, plans to provide customers with the opportunity to trade cryptocurrency on its platform.

According to Bloomberg’s publication, by referring to a source familiar with the situation, the company will first offer to trade Bitcoin and Ethereum, but later other cryptocurrencies will be added to the platform. Etrade representatives refused of commenting on this information.

Etrade is one of the largest brokerage firms in the market. The Company serves almost 5 million customer accounts. According to a report filed to the US Securities and Exchange Commission (SEC), E-Trade earned $9.6 billion last year, and the Company’s total assets exceed $65 billion. Appearing of the Company on the cryptocurrency platform is a sign of acceptance of digital assets in the financial industry.

It should be noted that last year, the Robinhood platform, one of the Etrade competitors, announced providing cryptocurrency trading in five US states, and earlier this year, the Company received BitLicense for providing crypto assets services in New York State. At the same time, Robinhood even overpassed Etrade by the number of trading accounts for a while.

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